Kazi Zahidul Hasan :
Bangladesh’s apparel exports have increased by 10 per cent in the immediate past fiscal taking advantage of higher wages in China and improved working conditions in local factories after the collapse of Rana Plaza.
Apparel export totalled US$ 28 billion in the fiscal 2015-16, accounting for 82 per cent of Bangladesh’s export earnings, according to an official figure released on Thursday.
“Overseas buyers are looking at Bangladesh as a reliable option for outsourcing. Competitive price, better quality, ability to meet strict timelines and higher wages in China contributed to the export growth,” M Siddiqur Rahman, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told The New Nation on Friday.
He added, “A push from the government with its policy support also helped Bangladeshi exporters to capture an additional share in the global market making the country’s income bigger form the sector.
Bangladesh earned US$25.08 billion from apparel exports in the fiscal 2014-15.
Terming the export growth “satisfactory”, M Siddiqur Rahman said, “The gain is so meaningful and encouraging when the industry was experiencing various challenges, including slow recovery in global demands and concern over workplace safety.
The BGMEA leader said that they have already taken meaningful actions in bringing fundamental changes relating to workplace safety and compliance after the collapse of Rana Plaza and fatal fire at Tazreen Fashions.
“Such initiatives also helped retain confidence of global buyers,” he added.
The government on Thursday set US$ 37 billion export target for the fiscal 2016-16 and apparel sector’s contribution to the target has been fixed at US$ 30.3 billion.
“We are hopeful to achieve this year’s export target as our shipment to key markets like Europe and US will continue to grow. We are also looking at exploring new markets to reach the target,” said M Siddiqur Rahman.
When asked, the said, the rising wages in China has led to fall in their textile and apparel exports in the international market.
“It is a boon for Bangladeshi exporters and they are now ready to bite the share taking advantage of relatively low labour costs in their country,” he added.
The BGMEA leader further said that the RMG sector has become a key diver of the Bangladesh economy and nation’s development. We want to take the industry to higher growth trajectory to further boosting the economy. Only a friendly policy to the industry and smooth law and order situation in the country can help us to attain the task.
Bangladesh’s apparel exports have increased by 10 per cent in the immediate past fiscal taking advantage of higher wages in China and improved working conditions in local factories after the collapse of Rana Plaza.
Apparel export totalled US$ 28 billion in the fiscal 2015-16, accounting for 82 per cent of Bangladesh’s export earnings, according to an official figure released on Thursday.
“Overseas buyers are looking at Bangladesh as a reliable option for outsourcing. Competitive price, better quality, ability to meet strict timelines and higher wages in China contributed to the export growth,” M Siddiqur Rahman, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told The New Nation on Friday.
He added, “A push from the government with its policy support also helped Bangladeshi exporters to capture an additional share in the global market making the country’s income bigger form the sector.
Bangladesh earned US$25.08 billion from apparel exports in the fiscal 2014-15.
Terming the export growth “satisfactory”, M Siddiqur Rahman said, “The gain is so meaningful and encouraging when the industry was experiencing various challenges, including slow recovery in global demands and concern over workplace safety.
The BGMEA leader said that they have already taken meaningful actions in bringing fundamental changes relating to workplace safety and compliance after the collapse of Rana Plaza and fatal fire at Tazreen Fashions.
“Such initiatives also helped retain confidence of global buyers,” he added.
The government on Thursday set US$ 37 billion export target for the fiscal 2016-16 and apparel sector’s contribution to the target has been fixed at US$ 30.3 billion.
“We are hopeful to achieve this year’s export target as our shipment to key markets like Europe and US will continue to grow. We are also looking at exploring new markets to reach the target,” said M Siddiqur Rahman.
When asked, the said, the rising wages in China has led to fall in their textile and apparel exports in the international market.
“It is a boon for Bangladeshi exporters and they are now ready to bite the share taking advantage of relatively low labour costs in their country,” he added.
The BGMEA leader further said that the RMG sector has become a key diver of the Bangladesh economy and nation’s development. We want to take the industry to higher growth trajectory to further boosting the economy. Only a friendly policy to the industry and smooth law and order situation in the country can help us to attain the task.
